The Dawson Creek Daily News newspaper last Wednesday received a second letter linked to a string of natural gas pipeline bombings in the Dawson Creek, BC, area dating back to last fall. It threatens more action and gives EnCana Corp. a deadline for removing its oil and gas facilities.
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BC Pipeline Bomber Sends Another Letter
The Dawson Creek Daily News newspaper Wednesday received a second letter linked to a string of natural gas pipeline bombings in the Dawson Creek, BC, area dating back to last fall. It gives EnCana Corp. a deadline for removing its oil and gas facilities.
Futures Slip Lower on Moderating Weather Forecasts
Continuing the recent string of small moves in either direction within the current trading range, July natural gas futures dropped 13.7 cents on Monday to close at $3.731. Moderating temperature forecasts and some signs of weakness from crude futures were seen as contributing factors to the drop. July crude shed another 35 cents to close Monday’s regular session at $68.09/bbl.
New Week Starts With Nearly All Points Up
The spot market may not be able to string together another five consecutive days of gains at most or all points like it did last week, but it started out this week in much the same fashion. Supported primarily by last Friday’s 23-cent increase in June futures and to a lesser extent by the return of industrial load from its usual weekend downturn, quotes rose at all but one point Monday.
XTO Builds Gas Shale Holdings in Multiple Transactions
XTO Energy Inc. is adding 35 MMcfe/d to its production base through a string of acquisitions in the Woodford, Fayetteville and Barnett shales. The company also announced last week it would no longer pursue a master limited partnership (MLP).
Mixed Pricing Mostly Up as Frigid Weekend Looms
With the latest in a string of widespread blasts of cold weather due over the weekend, prices were higher at a modest majority of points Friday. The cash market also drew support from the previous day’s 10.8-cent extension of recent strength in March futures.
Joining March, April and May, June Expires in the $7.50s
Bringing the string of consecutive expirations in the $7.50s to four, June natural gas futures on Tuesday put in a low of $7.490 before expiring at $7.591, down 4.9 cents on the day. The settle also marked the June contract’s seventh consecutive lower regular session close, bringing the loss streak to 48.4 cents.
Despite Small Storage Draw Expectations, Futures Post Small Gain
Halting the string of consecutively lower closes at four, traders on Wednesday pushed January natural gas futures to a high of $7.780 in quiet trading before the contract ended up closing at $7.727, up 4.2 cents on the day.
Futures Drop More Than 30 Cents as Traders Await Record-Setting Storage News
A string of consecutive higher daily settlement came to an end on the eighth day Wednesday as November natural gas futures pushed lower to close at $6.150, down 31.6 cents on the day. With forecasted cold air finally entering the Plains, some traders said Wednesday’s trade action was a classic example of “buy the rumor, sell the fact.”
Futures Drop 93.8 Cents in Four Days; Traders Eye May Expiration
After running up to reach a high of $8.280 last Wednesday, prompt-month natural gas futures have put together a string of down days with Tuesday being the fourth. May natural gas, which expires Wednesday, reached a low of $7.140 on Tuesday before closing at $7.254, down 30.4 cents on the day.